IDT Australia Limited provided market update. Further to the announcements made on 19 March 2021, 22 June 2021 and 23 August 2021 and at the request of ASX, IDT provides the additional disclosure in relation to its Sterile Readiness Agreement with the Australian Government: Scope: This agreement formalises the discussions between The Australian Government Department of Health (Health) and IDT in regards to recommissioning activities to bring IDT's Boronia sterile manufacturing facilities into a state of sterile readiness so that IDT can use those facilities to potentially provide assistance to Health in connection with Health's rollout of COVID-19 vaccines in Australia. Exclusivity: Under the Sterile Readiness Agreement (Agreement), IDT agrees to ensure the production capacity of its sterile facility will be retained exclusively for Health or Health's nominee until the earlier of: executing a Supply Agreement to deliver a COVID-19 vaccine, or 4 months from completion of IDT's sterile readiness works. There is no obligation on Health to use the IDT sterile facility or enter into any Supply Agreement. Termination: Health may terminate the Sterile Readiness Agreement at its convenience at any time with ten business days' written notice to IDT. Health may also terminate for cause, thirty days after IDT's failure to deliver a milestone, or thirty days after IDT has failed to remedy a material breach of the Agreement. Fees: IDT's fees under the Agreement are based on achieving certain milestones in relation to the facilities reaching a state of sterile readiness by the due date. Total fees (excluding GST) are AUD 11,446,250 and will be incurred over the FY21and FY22 reporting period. IDT's FY21 reported revenue (on 25 August 2021) already includes AUD 7,500,000 for work completed in relation to the Agreement; this amount was paid by Health to IDT on finalising of the Agreement. The remaining activities over FY22 relating to IDT's sterile facility recommissioning and sterile readiness works are nearing completion. At the conclusion of these activities IDT will maintain the facility in a sterile state, exclusively for Health. During the exclusivity period Health at its discretion can nominate a COVID-19 vaccine - in which case IDT and the relevant vaccine company would need to agree on commercial terms for the manufacture of the specific COVID-19 vaccine.